Section 1082. Bonds and property of the authority exempt from taxation

It
  is hereby determined that the creation of the authority and the carrying
  out of its corporate purposes is in all respects for the benefit of  the
  people  of  the county, and is a public purpose, and the authority shall
  be regarded as performing a governmental function in the exercise of the
  powers conferred upon it by this title and shall not be required to  pay
  any  taxes,  special  ad  valorem levies or special assessments upon any
  property owned by it or under its jurisdiction, control  or  supervision
  or  upon  its  activities, or any filing, recording or transfer taxes in
  relation to instruments filed, recorded or transferred by it or  on  its
  behalf.  Any bonds or notes issued pursuant to this title, together with
  the income therefrom shall be exempt from taxation, except for  transfer
  and  estate  taxes.  The  revenues,  monies and other properties and the
  activities of the authority shall be exempt from taxes and  governmental
  fees  or  charges,  whether  imposed  by  the state or any municipality,
  including real estate taxes, franchise taxes or other excise taxes.  The
  state  of New York covenants with the purchasers and with all subsequent
  holders and transferees of bonds  and  notes  issued  by  the  authority
  pursuant  to  this  title,  in  consideration  of  the acceptance of and
  payment for the bonds  and  notes  that  the  bonds  and  notes  of  the
  authority  issued  pursuant  to this title and the income therefrom, and
  all moneys, funds and revenues pledged to pay or secure the  payment  of
  such  bonds  and  notes, shall at all times be free from taxation except
  for transfer and estate taxes.